Former US President Donald Trump has called for Federal Reserve Chair Jerome Powell's resignation amid allegations of misleading Congress.
Trump's Accusations Against Powell
Donald Trump has publicly demanded Federal Reserve Chair Jerome Powell to resign if the accusations of misleading Congress are proven true. These accusations relate to renovations at the Fed’s headquarters. Trump, who appointed Powell during his presidency, has criticized his handling of interest rates, stating, 'If he misled Congress, he should resign immediately.'
Market Reactions and Possible Volatility
Trump's comments may provoke discussions within political and financial circles about US monetary policy. Interest rate decisions are under sharper scrutiny due to Trump's previous critiques. The cryptocurrency market, particularly Bitcoin and Ethereum, may experience increased volatility. Political pressure on the Fed could influence broader market sentiment and economic policies.
Past Conflicts Between Trump and Powell
Trump has previously criticized Powell, causing volatility in USD markets and crypto assets. Historically, such conflicts have resulted in temporary market adjustments. Current data suggests potential volatility may persist. Interest rate-sensitive markets should keep an eye on developments, although no immediate regulatory changes are noted.
The situation surrounding Powell and the accusations of misleading Congress may impact US monetary policy, and potential consequences will be closely monitored by both political analysts and market participants.
